Dr. Rustandi: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Dr. Rustandi
Largest movements
- Cash -€121,484
down €121,484 (-76.9%), from €157,894 to €36,410
mainly Other debts (-€184,752) and Current investments (-€30,490)
- Current investments +€30,490
up €30,490 (+95.8%), from €31,828 to €62,317
- Deferred charges and accrued income +€24,009
new in 2025: €24,009
- Receivables within one year -€21,782
down €21,782 (-55.2%), from €39,491 to €17,709
of which Trade receivables: -€39,491
- Tangible fixed assets +€5,392
new in 2025: €5,392
- Other debts -€184,752
down €184,752 (-96.5%), from €191,389 to €6,636
- Reserves +€91,846
up €91,846 (+309%), from €29,683 to €121,530
- Tax, wage and social debts +€7,350
up €7,350 (+136%), from €5,402 to €12,752
of which Remuneration and social security: +€7,203
- Gross operating margin -€81,951
down €81,951 (-35.5%), from €230,807 to €148,857
- Taxes -€21,580
down €21,580 (-39.8%), from €54,187 to €32,607
- Depreciation +€5,392
up €5,392 (+2,070%), from €260 to €5,652
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €229,473 | €145,838 | -€83,636 | -36.4% |
| Formation expenses | 20 | €261 | €0 | -€260 | -100.0% |
| Fixed assets | 21/28 | - | €5,392 | +€5,392 | |
| Tangible fixed assets | 22/27 | - | €5,392 | +€5,392 | |
| Furniture and vehicles | 24 | - | €5,392 | +€5,392 | |
| Current assets | 29/58 | €229,213 | €140,446 | -€88,767 | -38.7% |
| Amounts receivable within one year | 40/41 | €39,491 | €17,709 | -€21,782 | -55.2% |
| Trade receivables | 40 | €39,491 | €0 | -€39,491 | -100% |
| Other amounts receivable | 41 | - | €17,709 | +€17,709 | |
| Current investments | 50/53 | €31,828 | €62,317 | +€30,490 | +95.8% |
| Cash at bank and in hand | 54/58 | €157,894 | €36,410 | -€121,484 | -76.9% |
| Deferred charges and accrued income | 490/1 | - | €24,009 | +€24,009 | |
| Total equity and liabilities | 10/49 | €229,473 | €145,838 | -€83,636 | -36.4% |
| Equity | 10/15 | €32,683 | €124,530 | +€91,846 | +281% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €29,683 | €121,530 | +€91,846 | +309% |
| Distributable reserves | 133 | €29,683 | €121,530 | +€91,846 | +309% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €196,790 | €21,308 | -€175,482 | -89.2% |
| Amounts payable within one year | 42/48 | €196,790 | €21,308 | -€175,482 | -89.2% |
| Trade debts | 44 | - | €1,920 | +€1,920 | |
| Suppliers | 440/4 | - | €1,920 | +€1,920 | |
| Taxes, remuneration and social security | 45 | €5,402 | €12,752 | +€7,350 | +136% |
| Taxes | 450/3 | €5,402 | €5,549 | +€148 | +2.7% |
| Remuneration and social security | 454/9 | - | €7,203 | +€7,203 | |
| Other amounts payable | 47/48 | €191,389 | €6,636 | -€184,752 | -96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €260 | €5,652 | +€5,392 | +2,070% |
| Other operating charges | 640/8 | €451 | €640 | +€189 | +41.9% |
| Gross operating margin | 9900 | €230,807 | €148,857 | -€81,951 | -35.5% |
| Operating profit (loss) | 9901 | €230,096 | €142,564 | -€87,532 | -38.0% |
| Financial income | 75/76B | €5,952 | €7,377 | +€1,425 | +23.9% |
| Recurring financial income | 75 | €5,952 | €1,125 | -€4,826 | -81.1% |
| Non-recurring financial income | 76B | - | €6,251 | +€6,251 | |
| Financial charges | 65/66B | €121 | €487 | +€366 | +304% |
| Recurring financial charges | 65 | €121 | €487 | +€366 | +304% |
| Profit (loss) for the period before taxes | 9903 | €235,927 | €149,454 | -€86,473 | -36.7% |
| Income taxes | 67/77 | €54,187 | €32,607 | -€21,580 | -39.8% |
| Profit (loss) for the period | 9904 | €181,740 | €116,846 | -€64,893 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €181,740 | €116,846 | -€64,893 | -35.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.